DDi Corp. said Thursday it planned to close two facilities and consolidate some operations in Anaheim amid a soft market for printed circuit boards.
Meanwhile, the Anaheim-based company reported first-quarter sales fell 7% to $45 million, versus a year earlier. The company’s operating loss narrowed to $371,000 from a loss of $4.4 million a year ago. The company saw a one time gain of $11.1 million from the sale of its European operation.
A bright spot: Sales in the first quarter were up 2% from the fourth quarter.
“Although the sequential printed circuit board growth was limited, in general, we were pleased to see demand begin to increase toward the latter part of the first quarter,” said Bruce McMaster, DDi’s chief executive.
McMaster said bookings in March were at their highest level since October 2003.
The company said it plans to close a plant in Arizona and a corporate support center in Colorado. DDi said it will move human resources workers from Colorado to Anaheim, and shift most of the Arizona work to a plant in Virginia.
“Both of these changes help streamline operations, improve efficiency and reduce our cost structure,” McMaster said.
DDi didn’t say how many workers are affected by the plans.
Shares of another circuit board maker, Anaheim’s Multi-Fineline Electronix Inc., fell 26% earlier this week after the company issued a weak outlook for the rest of 2005.
